World grain trade will decrease in the 2022-2023 season - FAO forecast

Published 2023년 5월 8일

Tridge summary

The United Nations' Food and Agriculture Organization (FAO) has updated its forecast for the global production of cereals, fodder grains, and rice for the 2022 season. The overall production is now expected to reach 2,785 million tonnes, an increase of 7.7 million tonnes from the previous forecast, although it remains 1.0% below the previous year's production. The rise in production is attributed to higher harvest forecasts in Kazakhstan for wheat and in India for fodder grains. However, the FAO also warns that production inputs have become significantly more expensive, particularly in Myanmar, which is expected to see a decline in gross production. The global consumption forecast has also been raised to 2,780 million tonnes, with an increase in wheat consumption, while feed grain consumption is projected to decline slightly. The FAO also anticipates that world grain trade will reach 472 million tonnes in the 2022-2023 marketing year, despite a 2.2% decrease from the previous record.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

FAO's current forecast for world cereal production in 2022 has been raised by 7.7 million tonnes from last month's forecast, and now stands at 2,785 million tonnes, still 1.0 percent below last year's level. An increase in wheat production in Kazakhstan, with official data indicating that the harvest was higher than previously forecast, has for the first time in history led to an increase in the world's gross production above the mark of 800 million tons. The forecast for the world production of fodder grains has also been raised, which is due to a higher-than-expected harvest in India; this is confirmed by official data, according to which the yield has increased and the cultivated areas have expanded; however, this volume is still 2.8% below the level of the previous season. The FAO forecast for rice production in the world in the 2022-2023 season has been slightly increased to 516.7 million tons (in terms of shelled grain). This is 1.8% below the 2021-2022 level, which was also ...

Source: Agravery